How Will the Diabetic Peripheral Neuropathy Market Grow? Key Trends and Opportunities for 2025 and Beyond
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How Will the Diabetic Peripheral Neuropathy Market Grow Over the Forecast Period Based on Its Expected CAGR?
The market size of diabetic peripheral neuropathy has seen a robust increase in the past few years. The market is projected to escalate from $3.51 billion in 2024 to $3.84 billion in 2025, reflecting a compound annual growth rate (CAGR) of 9.4%. This upward trend in the past stage can be credited to factors such as the growing elderly population, escalated occurrence of diabetes, surge in healthcare spending, heightened awareness of diabetes-related complications, and advancement in healthcare infrastructure.
Expectations are high for a robust expansion in the diabetic peripheral neuropathy market in the coming years, with projections pointing to an increase of $5.43 billion by 2029, reflecting a compound annual growth rate (CAGR) of 9.1%. The anticipated growth in the market during the forecast period is linked to a rise in inactive lifestyle patterns, augmented government initiatives and funding, a rising presence of neuropathy risk factors, bettered accuracy in diagnostics, and an expanded focus on early identification and prevention. The forecast period is also expected to see significant trends such as progress in diagnostic technologies, advancements in treatment modalities, increased financial input into research and development, the evolution of minimally invasive procedures, and a heightened emphasis on collaborative research and development.
What Major Innovations Are Driving the Accelerated Growth of the Diabetic Peripheral Neuropathy Market?
Growth in the market for diabetic peripheral neuropathy is expected to be driven by the rise in health complications related to obesity. Excessive accumulation of body fat, which is a defining attribute of obesity, can lead to health impairment and an increased predisposition to various chronic conditions. The uptick in health problems associated with obesity can be attributed to heightened awareness, lifestyle modifications, and an emerging demand for preventative and therapeutic solutions, which in turn inflate the demand for healthcare. The role of diabetic peripheral neuropathy in managing obesity is vital, as it offers essential insight into nerve damage engendered by conditions linked to obesity. This facilitates tailored interventions that enhance a patient’s overall wellness and quality of life. For example, the World Health Organization (WHO), a Switzerland-based specialized agency of the United Nations tasked with global public health, reported in March 2024 that in 2022, 43% of adults over the age of 18 were considered overweight, and 16% were diagnosed with obesity. Also, 37 million children under five were overweight. In the 5 to 19 age bracket, more than 390 million children and adolescents were overweight, including 160 million who were obese. This surge in obesity-related health complications is triggering growth in the diabetic peripheral neuropathy market.
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Who Are the Dominant Players Expanding Their Reach in the Diabetic Peripheral Neuropathy Market?
Major companies operating in the diabetic peripheral neuropathy market are Pfizer Inc., Merck & Co. Inc., GlaxoSmithKline plc., Eli Lilly and Company, Astellas Pharma Inc., Biogen Inc., Vertex Pharmaceuticals Incorporated, Sun Pharmaceutical Industries Limited, Lupin Pharmaceuticals Inc., Chemie Grünenthal GmbH, Alkem Laboratories Limited, Acorda Therapeutics Inc., Mitsubishi Tanabe Pharma Corporation, NeuroMetrix Inc., Regenacy Pharmaceuticals Inc., Helixmith Co. Ltd., Aptinyx Inc., WinSanTor Inc., Sonnet BioTherapeutics Holdings Inc., OLYS Pharma Inc.
What Are the Top Trends Shaping the Evolution of the Diabetic Peripheral Neuropathy Market?
Leading entities in the diabetic peripheral neuropathy market are shifting their emphasis towards technological advancements such as NaV1.8 pain signal inhibitors. The intention is to provide patients with modern, non-opioid therapies that enhance pain control and overall life quality. A NaV1.8 pain signal inhibitor is a unique medication that obstructs the NaV1.8 sodium channel, a crucial facilitator of pain signals in sensory neurons. It offers respite from acute and neuropathic pain without the need for opioids. For example, Vertex Pharmaceuticals Incorporated, a biotech company from the US, announced progress in its suzetrigine pain program in April 2024. This included the start of a Phase 3 pivotal program for managing pain related to diabetic peripheral neuropathy (DPN). Suzetrigine, a particular NaV1.8 pain signal inhibitor, has displayed encouraging outcomes in prior studies and recently obtained a breakthrough therapy designation for diabetic Peripheral Neuropathy (DPN) pain management from the Food and Drug Administration (FDA), a federal agency in the US.
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Which Market Segments Are Driving Strategic Growth and Trends in the Diabetic Peripheral Neuropathy Market?
The diabetic peripheral neuropathy market covered in this report is segmented –
1) By Disease: Type 2 Diabetic Peripheral Neuropathy, Type 1 Diabetic Peripheral Neuropathy
2) By Treatment: Pain Management Drugs, Gene Therapies
3) By Therapy: Antidepressants, Anticonvulsants
4) By Patient Population: Adult Patients, Geriatric Patients
Subsegments:
1) By Type 2 Diabetic Peripheral Neuropathy: Sensory Neuropathy, Motor Neuropathy, Autonomic Neuropathy
2) By Type 1 Diabetic Peripheral Neuropathy: Distal Symmetric Neuropathy, Mononeuropathy, Polyradiculopathy
Which Regions Are Setting the Pace for Diabetic Peripheral Neuropathy Market Growth?
North America was the largest region in the diabetic peripheral neuropathy market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the diabetic peripheral neuropathy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Is the Diabetic Peripheral Neuropathy Market Defined Across Different Regions?
Diabetic Peripheral Neuropathy (DPN) is a nerve disorder caused by prolonged high blood sugar levels in individuals with diabetes, leading to nerve damage primarily in the legs, feet, arms, and hands. This condition occurs due to long-term high blood sugar levels, which damage the nerves and blood vessels, impairing nerve function and blood flow to the affected areas.
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